Indian Diaspora Key to Unlocking Mining Potential, Says Minister
During the Pravasi Rajasthani Divas Celebrations in Jaipur on Wednesday, Union Minister of Coal and Mines, Shri G. Kishan Reddy, emphasized the vital role of the Indian diaspora in promoting investment and innovation, thereby contributing to India’s growth. He expressed heartfelt greetings to the overseas community and highlighted their deep-rooted connection to India, despite living away from home.
Celebrating Rajasthan’s Rich Mining Heritage
Shri Reddy applauded Rajasthan as not only a cultural gem of India but also a treasure trove of mining resources. He pointed out that the state has a longstanding history of excellence in mineral extraction, making it a significant player in India’s mineral security landscape. Rajasthan remains a top producer and exporter of vital minerals such as marble, granite, sandstone, and slate.
Transformative Reforms in the Mining Sector
The Union Minister noted the government’s commitment to enhancing the mining sector through cooperative and competitive federalism, which has fostered growth and improved mineral security across the country. He mentioned landmark reforms initiated by Prime Minister Narendra Modi, including the introduction of a transparent auction system and encouraging private sector participation with 100% Foreign Direct Investment (FDI) permissions in exploration.
Investment and Technology in Mining
Shri Reddy announced the launch of the National Critical Minerals Mission, which carries a budget of ₹34,300 crore aimed at self-reliance in critical minerals. He highlighted that, for the first time, exploration licenses have been auctioned, with seven blocks open for auction, which is expected to enhance private sector involvement and accelerate exploration activities.
Advancements in Coal Mining
Discussing the coal sector, Shri Reddy pointed out that commercial coal mining has transformed, leading to increased private participation, improved production capabilities, and operational efficiencies. He noted special initiatives focused on coal gasification, which have emerged as new avenues for investment, alongside the introduction of underground coal gasification blocks sold via auction for the first time in India.
The Future of Mining in India
Emphasizing the vast investment opportunities within India’s mining sector, the Minister urged the Indian diaspora to engage actively in this landscape. He remarked that the knowledge, vision, and experience of the diaspora can significantly aid in achieving remarkable potential. Shri Reddy encouraged collaboration with institutions like KABIL for vital mineral acquisitions abroad to bolster India’s strategic capabilities. Concluding his address, he called on the global Indian community to unite in transforming Rajasthan into a hub of opportunities, further positioning India as a global leader in mining.
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